SVENSKA CELLULO Correlations

Stocks . Germany . 
Stock . SVENSKA CELLULO B
SCA Stock   13.04  0.10  0.77%   
The current 90-days correlation between SVENSKA CELLULO B and COLUMBIA SPORTSWEAR is 0.05 (i.e., Significant diversification). The correlation of SVENSKA CELLULO is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

SVENSKA CELLULO Correlation With Market

Good diversification

The correlation between SVENSKA CELLULO B and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SVENSKA CELLULO B and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to SVENSKA CELLULO could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace SVENSKA CELLULO when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back SVENSKA CELLULO - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling SVENSKA CELLULO B to buy it.

Moving together with SVENSKA Stock

  0.97SCA Svenska CellulosaPairCorr
  0.96SCA1 Svenska CellulosaPairCorr
  0.8AS4 Corticeira Amorim SGPSPairCorr
  0.64S0V SeaboardPairCorr
  0.87ZEG ASTRAZENECAPairCorr
  0.85MM0 MONETA MONEY BANKPairCorr
  0.8STD STANDARD CHARTEREDPairCorr
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  0.7S9L FERRAGAMOPairCorr
  0.63CMW CHINA M SRVCS Earnings Call This WeekPairCorr
  0.79KGHA KGHM Polska Miedz Earnings Call This WeekPairCorr
  0.66BSX BOSTON SCIENTIFICPairCorr
  0.74G8G GREATLAND GOLD PLCPairCorr
  0.76VOW Volkswagen AGPairCorr
  0.71AG1 AUTO1 Group SEPairCorr

Moving against SVENSKA Stock

  0.72NVE NVR IncPairCorr
  0.56WFC West Fraser TimberPairCorr
  0.44BC0 Boise CascadePairCorr
  0.43NKC CanforPairCorr
  0.3834T1 Tiangong International Earnings Call This WeekPairCorr
  0.37UF3 UFP IndustriesPairCorr
  0.35RA6 RayonierPairCorr
  0.89DBPD Xtrackers ShortDAXPairCorr
  0.75J9I0 5E ADVANCED MATERIALS SplitPairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
39M
+ 0.95
39M
CUW
+ 0.93
CUW
6CF
+ 0.68
39M
6CF
+ 0.66
FV8
6CF
+ 0.66
39M
FV8
+ 0.62
39M
  
High negative correlations   
6CF
- 0.61
45P
E8H
- 0.55
45P
39M
- 0.38
45P
39M
- 0.33
45P
FV8
- 0.31
45P
6CF
- 0.26
CUW

Risk-Adjusted Indicators

There is a big difference between SVENSKA Stock performing well and SVENSKA CELLULO Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze SVENSKA CELLULO's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

Be your own money manager

Our tools can tell you how much better you can do entering a position in SVENSKA CELLULO without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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SVENSKA CELLULO Corporate Management

Elected by the shareholders, the SVENSKA CELLULO's board of directors comprises two types of representatives: SVENSKA CELLULO inside directors who are chosen from within the company, and outside directors, selected externally and held independent of SVENSKA. The board's role is to monitor SVENSKA CELLULO's management team and ensure that shareholders' interests are well served. SVENSKA CELLULO's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, SVENSKA CELLULO's outside directors are responsible for providing unbiased perspectives on the board's policies.
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